For 13 years Russia has left 20 thousand dollar millionaires and billionaires, 6 thousand – in the last 3 years
Over the last 13 years, Russia has left 20 thousand dollar millionaires and billionaires. And this number 6 thousand left in the last three years, the newspaper writes EurasiaNet.org citing several studies.
Thus, in the study of Knight Frank, a leading international consulting companies specializing in services for the super rich customers all around the world, says that from 2003 to 2013, left Russia 14 thousand owners millions and billions of dollars, or 17% of the total. According to this indicator, Russia ranked fifth in the world.
In subsequent years, the immigration mood among the wealthy Russians grew even stronger. In the years 2014-2016 from Russia have left already about 6 thousand financial successful citizens.
Among the reasons are government intervention in the business environment and the volatility of local laws and anti-Western sentiments of the authorities in recent years, and the law on deofshorizatsii.
The law “On taxation of profits of controlled foreign companies and income of foreign organizations” entered into force in January 2015. According to him, the Russian taxpayers are obliged to disclose tax service direct or indirect participation in foreign companies, and to pay tax on undistributed profits that these organizations receive. He added to the already existing problems, which encourage wealthy Russians to emigrate.
The Ministry of Finance shortly before the law came into force evaluated the effect of 20 billion rubles, which each year had to go to the budget in tax payments.
However, many businesses have found a way to bypass the law. If a person stays in Russia for less than 183 days in a year, he loses the status of a tax resident and is not obliged to report to tax authorities about their foreign companies, and especially to pay tax on their profits.
In early 2017 the law Bureau “Egorov, Puginsky, Afanasiev and partners” interviewed nearly 300 wealthy residents of Russia, the controlling foreign company. From this it follows that 40% of respondents decided to refuse the status of a tax resident, 9% transferred assets to relatives, non-residents, and only 20% in accordance with the so-called capital Amnesty decided to liquidate the foreign company and return the money to Russia.
The Ministry said EurasiaNet.org that do not have data about receipt in the budget the money received as a result of action of the law on deofshorizatsii. However, the effect of these measures, the Ministry sees in the international rankings that measure the business environment.